US-Iran War Uncertainty Keeps Oil Prices Steady

Oil prices remained steady in early trading on Thursday as investors assessed the outlook for the war between the United States and Iran.

The Brent crude futures for October delivery rose 25 cents, or 0.3%, to $91.87 a barrel, while US West Texas Intermediate (WTI) crude futures for September delivery fell 2 cents to $85.81 a barrel.

Hiroyuki Kikukawa, chief analyst at Nissan Securities Investment, said oil prices have remained elevated due to sporadic attacks in the Middle East but lack fresh momentum as there has been no major escalation.

The UAE's decision to suspend all financial and economic transactions with Iran until further notice has highlighted the strained relations between the two countries.